Cost-Reducing Tips for the Small-Business Owner

One of the keys to running a successful small business or home office is learning to control costs. Even the smallest expenses can quickly add up and cut into profits, leaving you with a business that won’t move forward.

Many small-business owners know where their money comes from, but are not as clear on where it goes. This can have a significant impact on their businesses’ cash flow.

It’s important to review your expenses regularly – every quarter if possible – so you can accurately manage your outgoing expenditures and look for ways to save.

Demos Parneros, president of U.S. stores at Staples Inc., provides the following suggestions to save your business money.

* Buy last year’s model. Furniture, computers, PDAs – there is always something new. This also means that there is always something old. If you wait until the end of the year or for sales throughout the year, you can save on your office needs.

* Buy in bulk and buy ahead. By buying commonly used items in large quantities, you can save a lot. Replenish your supplies before you run out. Thinking ahead, and thus buying ahead, gives you a chance to comparison shop and take advantage of sales.

* Buy products that save money. Consider quality alternatives to national brands. Staples ink and toner products, for example, offer consumers quality products at a 15 percent to 20 percent cost-savings per cartridge.

* Take advantage of discounts. Professional and trade associations often offer their members discounts on insurance, travel, shipping and other common expenses. Similarly, some credit cards, like the American Express Corporate Card for Small Business, may get you discounts as well.

* Save on mail costs. Mail costs for your business can add up fast. To save money, use postcards or consolidate shipping. You also can buy or lease a postage meter or get a mail scale to eliminate overpaying.

3 Hot Tips For Building Trust And Increasing Sales

How many times has it happened to you? You walk through the doors of a place of business and here he comes – perfectly groomed with a smile planted across his face in greeting. Within two minutes he has talked non-stop and promised you everything, including the stars if you purchase his project. You lift and eyebrow, and think to yourself… “Yeah, right!”

The distrust between consumer and salesman is a longstanding feeling. After all, you know they are wanting to make a buck off your purchase. Sure, you don’t mind them making a few dollars… everybody has to make a living… but heck, it would be nice if they were at least a little concerned about what your needs are too!

Let’s face it… customers aren’t likely to buy from you unless they feel confident that you will deliver. There are a few easy steps that you can take to give them the confidence they need to take the plunge.

1. Let Previous Customers Make The Claim
The proof is in the pudding… No one can say that you deliver and make good on your promises like a satisfied customer. It pays to use customer testimonials. Now, we’re not talking about blindly pasting testimonials everywhere… a little business sense and organization will be helpful in making the most of them.

Choose testimonials that are exact and talk about specific aspects of your business. “Thank you so much for your hard work!” is wonderful, but “Thank you for spending 2 hours with me yesterday. Your personal attention is greatly appreciated.” says a lot more. Yeah, the reader knows that you are willing to take whatever time it takes to help them through the purchasing process.

Be sure to get your customer’s permission to use their testimonial as part of your advertising campaign. While you’re at it, get as much personal information about them as you can. Their occupation, city, etc., create a more realistic appeal to their testimony.

2. Be Specific In Your Claims
Specific claims are more believable than vague, generic brags. Order today! It’s Fast, Easy and Cheap! Sounds much better when you say… Order Today! Take 2 Minutes to Fill Out Our 7 Step Order Form and Save 20% on Your Purchase!

Specific numbers don’t always come out even. In fact, readers tend to believe numbers that have decimals are more accurate than whole numbers… even if the real number is exactly a whole number!

3. Be Realistic
Don’t alienate customers with claims that sound too good to be true. Yeah, we all know the old saying that if it sounds too good to be true, it probably is. Unrealistic claims steal your credibility and leave the customers with a raised eyebrow.

Think of it this way… what if you do understate the benefits? When your customer finds out the truth, he’ll just be that much more satisfied! Marketers suggest that you under promise and over deliver to create the greatest customer satisfaction.

Customers who believe in you aren’t afraid to buy from you. That means higher sales numbers and greater profit.

10 Tips to Succeed With Your Home Business

Virtually everyone would jump at the chance to start a legitimate home business so they could work at home and attain financial freedom. But not everyone has what it takes to transform a home business opportunity into financial success. Here are ten tips that will help you achieve your personal and financial goals through running your own legitimate home business.

1. Secure your start-up funds. Any successful business owner will tell you that you need to invest money in your business in order to make money. A home business is no exception. Expect to spend a maximum of $5,000 for a legitimate home business opportunity. If the opportunity is sound, you should be able to get back your initial investment within a matter of days or weeks, but you do need that initial investment.

2. Get high-speed Internet. If you don’t already have DSL or a broadband Internet connection, you should have it installed. The best home business opportunities are Internet based, so you need reliable and speedy Internet access.

3. Find the right opportunity. Like every other person, you have a unique set of strengths and weaknesses. Find a legitimate home business that draws on your strengths. If you aren’t a salesperson, for example, stick with a home business that doesn’t require you to make cold calls.

4. Get support. Launching your own business can be a daunting prospect, so be sure that you have the support you need. Look to family members and friends for encouragement, and look to the company with which you affiliate to provide you with a sense of community.

5. Take advantage of available resources. Unless you are a seasoned entrepreneur, you probably aren’t aware of the nuances of running a business. The home business opportunity you choose should have a number of resources available to you, so take advantage of them. These resources might include a back office set-up, daily or weekly conference calls, and online tutorials.

6. Key in on marketing. The success of any business, whether a brick-and-mortar store or an Internet-based business, is marketing. The bottom line is, if people don’t know about your business, you’ll never turn a profit. Take full advantage of the marketing tools and advice that you’re provided.

7. Set up a wok schedule. The wonderful thing about being able to work at home is the flexibility that comes with it. However, setting your own work hours doesn’t mean that you don’t have to work. It’s helpful – particularly when you’re starting out, to schedule your work hours as though you were going in to a “regular job.” In doing this, you’ll ensure that you put in the time necessary to make your business succeed.

8. Minimize any distractions. If you’ve never worked from home before, it’s easy to divert your attention from the task at hand. While you’re working, close the doors of your home office, turn down the ringer on your home phone, and vow not to check your personal email. Forget the laundry and the errands, and concentrate on your business.

9. Keep good records. It may not seem important know, but come tax time, you’ll need financial records of all of the expenses and income associated with your home business opportunity. Some people use a spreadsheet, while others use special accounting software. Either way, keep track of everything, and keep your receipts.

10. Have fun! Having the knowledge that you’re working toward your financial freedom while being able to work at home in a legitimate home business is incredibly rewarding. Always keep your goals in mind, and have fun creating a stable future for you and your family.

Outsourcing The Building Of Websites To Low Wage Countries

Outsourcing is the delegation of tasks or jobs from internal production to an external entity. At present standards, it has become more related to hiring the services of staff overseas where salaries are markedly low as compared to the local existing standards. It is primarily done by companies to save money, improve quality or free company resources for more important activities.

Low-cost countries such as China, India and Venezuela continue to attract companies to move things offshore and outside their own boundaries. However, outsourcing should not only be seen as a cost-cutting maneuver but also as a way to produce important strategic benefits. One thing that is slowly being recognized is that there are savings to be gained in sourcing knowledge and talent as there are cost savings in sourcing things.

The sourcing of knowledge and technology provides access to better processes or efficiencies as well as more efficient management procedures. Outsourcing opens the way to make use of specific specializations of entities that would otherwise not be available. More and more companies are starting to realize that the probability for attaining excellence is much higher if it concentrates its efforts on its core activities. Other tasks such as building of websites are better left to professionals. The good thing about the present status of building of websites is that the service can also be outsourced to offshore companies. A company can now have the benefit of a much bigger and better site for the same amount of money spent in the US for a regular site.

The forerunners of outsourcing have exhibited much competitiveness in terms of well-developed telecommunication and IT infrastructure, good business services and having a pool of qualified people. This is the very reason for the so-called India advantage. India ranks first among the most favored outsourcing destinations due to its varied inherent strengths. It has a booming IT industry which is recognized all over the world. It has the largest English speaking population after the USA and has excellent training infrastructure. India’s government is also very supportive of outsourcing activities. Not to be forgotten of course is its cost-effective manpower which caught the initial attention of companies seeking ways to reduce costs.

Outsourcing should not be construed as abdicating responsibility but rather as leveraging outside capabilities. When organizations outsource, they do so because they would want to leverage the distinct skills and resources of other organizations to the benefit of their company and their customers. The basic business philosophy underlying outsourcing is the delegation of business activities that isn’t of core competence. It is about accepting the fact that no single company can be particularly good at everything. It is about using this known fact to assess a company’s strengths and weaknesses. Once a company is clear about what it considers essential, then it will be able to focus on broader business issues while having operational details assumed by external experts. Outsourcing has long ceased to be a strategy used during bad times only as in cutting operational costs. It has also become a business strategy used during good times to focus on the company’s growth.

Building of Websites

Outsourcing has introduced teleservices to numerous organizations worldwide. It can be broadly referred to as information-based work performed at a distance from the customers. Its market can be divided into three categories namely tele-processing, software export and interactive teleservices.

The first category covers tele-processing which includes all back-office functions performed in remote information processing factories. Specific tasks such as data conversion services, remote technical staff and content management are performed by an outsourcing company. Content management would in turn include content services for websites, database maintenance and refresh, various design services and even animation. The second category includes website development and related e-business applications development while the last category provides technical support to owners of PCs and peripherals.

Website development requires a special touch that only experts in this field would know. It is not just about producing a website but ensuring proper full scale websites that incorporates web design and placement, Internet marketing and optimization to gain the right listing on search engines. A web services firm specializes in the planning, design and development of web based business-to-business sites.

Optimal website placement is crucial to the success of any website. Web services firms are expected to provide a complete, professional design that is based on a client’s specific business environment. The design and layout of text, logo and graphics is as important as the ease of navigation. Special attention is given to color, white space, type fonts, background elements and other related items as these make up the artistic elements of a website. The aim is to create a website that projects a professional image, while at the same time, pleasing to the eye. The design should also be search-engine friendly and scalable for future add-ons.

The high-quality content of websites is the leading reason for repeat visitors followed by ease of use, quickness in downloading requested information and frequent updating. One area of a corporate work load that is best outsourced is website management and maintenance handled by web professionals. A company stands to reduce costs by eliminating the need to maintain a full time website specialist, web developer, artists, designers and network administrators.

There are a lot of choices when it comes to website development providers. The important thing to consider is how well they would be able to respond to each company’s unique specifications. A company will do well with the services of a provider that guarantees proper maintenance and updating of a website for the least possible costs. Most website development firms offer affordable hourly and retainer agreement based contracts and plans.

A company may wonder what logic lies behind outsourcing the building of websites to low wage countries. Offshore outsourcing firms located in developing countries have a wide range of world-class website development services to offer at affordable prices. Generally, they are always interested in building mutually-beneficial partnerships with overseas companies. India has opened the way as it revealed its most important natural resource which is the abundance of technically skilled manpower. Cost-effective services are provided without compromising the quality. Other developing countries are making their presence felt in the industry. Common sense tells us that any company stands to gain more if it is able to access the same quality of services and products for a considerably reduced cost.

Outsourcing – Get Your Work Done At a Lower Cost

The globalization phenomenon of the 90s brought about two significant changes, which were looked quite an unrealistic proportion just few years before the dawn of the 90s. The internet revolution, the ultimate thing that helped globalize the world, caused physical distances to shrink and economies became more and more interrelated, in a way such that an economic change at some part of the world bound to have some sort of an influence in other economies as well. Globalization virtually expanded the contours within which businesses functioned earlier – both in terms of economics and service – and redrew the limits to encompass every corners of the world where businesses can be set up without much hitch and services bought in plenty. This paradigm shift had indeed become the soul of outsourcing. A good 15 years since outsourcing commenced, market researches have shown that outsourcing accounted for services at a low cost – as fewer by 50% – and that without compromising on the quality of work and execution time.

In these early years of the new millennium, where we stand today, the Asian and south-Asian countries ranks themselves as hot beds of outsourcing, a fact substantiated by market experts who put the net worth of outsourcing industry based on these countries to a whooping $100 billion, and the number increasing by the day. The figures itself is clear indication of the amount of work outsourced to this part of the world. But if you are new to this field, how to get yourself started with outsourcing? Also, there are other questions such as how to outsource work and where to find the required services and talent? Furthermore, where to post the proposals so as to receive maximum exposure? Well, these are exactly what we are trying to explain in the following paragraphs.

There are various websites in which you can submit the project proposals and requirements. Most of the websites charge a fee for signing up so as to post the project details while some others are partly-free. Also, there are free sites which allow people to sign up and advertise projects free of cost, and a nominal commission will be charged if the advertiser finds a freelancer through the site.

Which ever website you choose to post to, it is the visibility one’s advertisement gets that ultimately matters in drawing more talents and hence a better talent pool from which the final selection can be made. Therefore, tactically, it will be prudent to post the project in at least two websites at a time. Ideally this should be a pay-site with the most competent services and maximum viewer ship and a free one. The project posted in the former may provide an enhanced promotion – as per the marketing standards and quality of the site – meanwhile posting in the latter, and if it is a new one like workasfreelancer.com, it gives the client a place at the top of the list and hence better chances for finding quality bids with less struggle.

Alongside visibility, there is one more aspect that the advertiser need to stress on – it is the type of the project and a detail of the requirements and demands from your side regarding the freelancer who is bidding for the project. It is in fact a way of telling the freelancer about what you expect from him. Such enunciated way of posting projects eliminates the issue of inappropriate bids and draws more freelancers instead.

WorkAsFreelancer.com offers you free service in terms of posting the project and right through freelance bidding to signing the contract. Also, unlike other websites, both fee based and partly-fee types, it allows the clients to send private messages to others, in order to brief your project or to invite somebody else to join the bid. Another feature is that, as soon as the client wins a project or selected somebody to execute the project, the concerned party is provided a project page containing detailed information about the progress made, escrow account and much more. Finally, the website team will offer you necessary tips on the do’s and don’ts when clarifying the project requirements. And you won’t be charged even a penny for that as well.

A Critical Tip To Make An Outsourcing Project Successful

Understanding what you want to accomplish is critical to a successful outsourcing venture. Although there are many who claim to offer offshoring procurement services, the fact remains that only the business contemplating outsourcing can determine the what, who and when of any offshore service project.

To this end, a business needs to understand the WHAT of any outsourcing project. The what of course, is what will be outsourced. It’s not enough to simply state we’re gong to outsource IT technology services, or Human Resources, or any other facet of the business. To determine the WHAT means an intimate understanding of how your business is currently handling that work.

So the first order of business when considering outsourcing is:

Define the current Process. This should be done with an understanding of requirements. Requirements should be clearly defined in such a way as to eliminate ambiguity and offer a measurement method. Fast service is NOT a metric. Answering and resolving a specific type of customer inquiry within x number of minutes IS a requirement.

The exercise of defining the current process allows you to understand the details of what actually needs done. This information will be needed when/if transferring that process over to your new outsource partner.

Now would also be a good time to do a cost benefit analysis on the proposed process. This allows the business to have a solid estimate of the current operating costs of the process under consideration for outsourcing. When doing this analysis, be certain to honestly consider all the costs involved.

I was involved with a major technology company who insisted that any cost that couldn’t readily be quantified, be marginalized or simply ignored. They based the decision to outsource their internal help desk for thousands of people based on a simple statement; “Support call costs will go from 25 dollars to 6 dollars.” Problem was that they didn’t cover all the costs. Although they required calls to be answered within a certain period of time, they didn’t set a resolution time. When support was in house, an engineer could call for support and get a resolution in hours. After the transfer however, that same call took a minimum of 3 days and sometimes over a week for resolution. The cost in lost productivity to the company because the engineer didn’t have access to his files and email were never considered in the simple statement above. If the total costs were considered, the savings would have been much less significant.

So the key tip is to know your process and costs prior to considering offshoring any project. By being armed with solid information, it’s then possible to select the right outsource partner and make a good decision for the business.

Home Based Business Ideas for the Health and Fitness Industry

If you’re considering your own home based business, the “health and fitness” industry is a great place to start. There are millions of people of all ages searching for good health tips, products, health advice, vitamins and minerals, etc. So, there’s an ongoing need for health-related businesses – both online and offline. Here are some great ideas for starting your own health related home based business.

Focusing on a Woman’s Health

A woman’s health is very important to her. You can start a home based business based on health and fitness for women only. Women are always trying to lose weight, improve health, and discover the secrets behind true health. You can build a home based business that offers advice for women and “improve your health” products such as vitamins, minerals, diet foods, recipes, etc.

Men’s Health and Fitness

Men are typically not as weight-conscious as women, but they do like to stay in shape. If you want to establish a home based business centered on men’s health, focus on fitness and exercise. Offer exercise tips and products or vitamins that can help build muscle strength and increase energy.

Weight Loss

If it is weight loss that interests you, you can start an entire home based business about weight loss for men, women and children. You can promote only one weight loss program or a variety of weight loss programs. With a weight loss website, you can offer almost unlimited tips, recipes, articles, etc. Also, you can dedicate sections of your site to fitness and exercise. The possibilities are endless!

Start a Health Newsletter

You can also start your own newsletter about health-related issues. With a newsletter, you can offer it free to subscribers and charge for advertising. Advertisers might be retailers of vitamins and minerals, exercise equipment, health foods, weight loss products or programs, doctors, etc. You can also start a newsletter to promote your own health-related home based business. An online e-zine is even better!

Join with Experts in the Field

If you feel uneasy about starting a health home based business on your own, or simply don’t have the expertise needed for such a venture, you can easily team with others who are knowledgeable about the health industry. Some companies, such as USANA, enable you to sell their products, and they do all the groundwork and research for you. So, you can start a home based business in the health industry with little or no prior knowledge.

Helping others to improve health, lose weight, or get in shape can be both a rewarding and lucrative home based business. Discover your rewards while the industry is still booming!

Discover Financial Freedom with an E-book Home Business

Financial freedom can only be recognized with hard work, innovation, and a popular – but reliable – product or service. But with an Internet business, these three often get clouded with having almost too many opportunities. You can easily get discouraged when researching the overwhelming number of business venues that are available online. But with e-books, many small business owners are discovering financial freedom while offering long-lasting products of value.

E-books are electronic books that might contain graphics, photos, sound, and content relating to any subject. They can also contain links to various web pages for promotions or illustrations. It’s very inexpensive to create an e-book, but yet people enjoy reading them every day. E-books are popular online because they are usually inexpensive or free and offer advice and tips on a variety of subjects. The subjects can be anything from “how to earn money online” to “how to start a home business.” E-books may also cover more specific subjects such as “how to make money with a crafts business” or “cross-stitching tips for the beginner.” The possibilities for e-book subjects are unlimited.

E-book Home Business Facts

Starting an e-book business means you are offering e-books for sale online to a specific target audience. You might sell only one or a few e-books, or you might even sell hundreds of them. The choice is yours, but of course, the more e-books you offer, the more chances you’ll have to earn a lucrative income.

Here’s how it works. You’ll promote your e-books using various techniques such as an e-mail newsletter (e-zine), search engine promotions, paid ads, and other methods. Customers will visit your website to read your presentation. When they purchase one of your e-books, they will download it directly from your website or from an e-mail. You can even automate the entire process to make things easier on you and the customer.

The reason e-books are so successful for gaining financial freedom is because once they’re created, you don’t have to do anything except promote them. You can create an automated cash system that works 24 hours a day, 7 days a week. E-books can be sold and downloaded by your customers while you sleep!

Resell E-books to Earn Money

If you don’t want to write your own e-books, you can also create a cash system and enjoy financial freedom by reselling e-books that others have written. With this type of home business, you will purchase rights to various e-books, sometimes hundreds of them, and resell them as your own products. Keep in mind that other companies will likely be selling these titles as well. But the Internet is so big, there’s plenty of room for everyone!

Some companies provide business opportunities in which you’ll receive a number of benefits along with hundreds of e-books to resell. These opportunities may cost a little up front, but are definitely worth the investment for starting your own home business. The e-book products alone can generate a very healthy cash system for years to come.

As with any home business, selling e-books will take some time to build and promote. But once the ball’s rolling, you’ll enjoy financial freedom and success like never before!

Create Your Own Shopping Mall and Work from Home

There’s no disputing that the Internet has enabled hundreds of thousands of people to launch their own home based business. And, with the economy on the brink of recession, more people than ever before are looking for ways to supplement their existing income, to recover from a job loss, or to hedge against uncertain times. An Internet home based business offers a multitude of benefits. You can make your own hours, so you can work while the kids are in school or after they’ve gone to bed at night. You can avoid the time wasted by a daily commute and don’t have to pour money into your gas tank going to and from work everyday. Best of all, you don’t have to answer to a boss, because you are the boss!

Because the amount of money consumers spend online is at an all-time high, one of the best businesses you can launch is an online shopping mall. While this seems counterintuitive – after all, where are you going to store all of the inventory? – many people are finding extraordinary success in selling online.

What’s the secret? It’s actually pretty simple. You just need to find a supplier who will give you access to products that you can sell online, and then who will do the shipping for you. In other words, you don’t have to stock inventory, you don’t have to deal with packaging and shipping; you just need to sell the products. Ideally, the company you partner with should have 200,000 or more products from which you can choose. When you have access to that kind of inventory, you can become an eBay power seller or a star Amazon trader in no time at all.

When you’re looking for a company with which to partner, find one that has at least three different plans. One might be an auction plan, with a one-time set up charge and no monthly fees. You should have access to low wholesale prices and all of the company’s products, with no minimum order.

Another option might be a website plan where you get your own website pre-loaded with all of the products, where you can customize your website, and where no merchant account is required. A third option might be a website and auction plan where you can have the best of both worlds, and where you get a free domain and a free email account.

Beyond the plan options, you should look for a company with no monthly fees, that offers free order fulfillment, and that will dropship every product you sell directly to your customer. In other words, you should be able to have a turnkey shopping mall that you can administer from home. All you need is a computer.

As for the types of products you sell, there are virtually no limits. The best partnering companies offer hundreds of thousands of products in categories like apparel, computers, electronics, health and beauty, home and garden, jewelry, toys and games, and so forth. Typically, an online shopping mall that offers a wide variety of products is more successful than one that offers a small selection.

Starting a home based business can be incredibly satisfying, as well as financially rewarding. The secret lies in partnering with the right company.

Creating a Business Strategy

On a scale of one to ten, having a good business strategy rates about a fifteen!

No matter what kind of business you have — whether you sell products or a service, as the saying goes, “if you fail to plan, then you’re really planning to fail.”

Creating a strategy can mean the difference between you working 60 to 80 hours a week all year long — and then breaking even, or worse, losing money.

On the other hand, many successful entrepreneurs who have a strategy work fewer hours and make piles of money — and they usually attribute their success to having a strategic plan and following it.

So what is strategic business management? Very simply, it’s the process of defining the goals and objectives for your business, creating an action plan so you can reach them and then following the plan.

How do you create a strategic plan for you business?

1. First, know what your vision for your company is. If there were no barriers, nothing stopping you from taking your company as far as you could — what would that look like?

2. Next, what are your company’s core operating values? What are its guiding principles? In other words, why are you in business and how do you do business?

3. Now create a 3 to 5 year plan. Your long-term plan is based on the broad objectives that will help you get from where you are now, to where you want to be.

4. Develop a plan for this year. These are the specific objectives you plan to accomplish this year that will lead you closer to your long-term goals. Remember to be “SMART” when setting your annual goals (Specific, Measurable, Attainable, Realistic, Time-oriented). Include a list of the barriers that are stopping you from getting where you want to go. Figure out what resources you’ve already got, and what resources you need to get you past those barriers. And then create an action plan that clearly lays out how you will achieve your goals. Involve key employees with this part of the planning process.

5. Create a set of milestones or benchmarks. This is very important, so that you can measure your progress.

6. Share the plan with your employees, and anyone else who will be involved in the process. Your annual strategy is the roadmap that will make sure everyone ends up at the same destination — but to be effective, everyone needs the same map!

7. Put the plan into action. Now that you have the roadmap, it’s time to begin the journey.

8. Check your progress. Just like any trip, you need to check the map every now and then; to be sure you’re still on the right road. If something isn’t working, the sooner you figure it out and make the necessary adjustments, the sooner you’ll be back on track.

9. Follow the same cycle next year. (Dream, Plan, Act, Check).

Creating a busi

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